Monetary policy with single instrument feedback rules

Bernardino Adao (), Isabel Correia () and Pedro Teles

No WP-04-30, Working Paper Series from Federal Reserve Bank of Chicago

Abstract: We consider a standard cash in advance monetary model with flexible prices or prices set in advance and show that there are interest rate or money supply rules such that equilibria are unique. The existence of these single instrument rules depends on whether the economy has an infinite horizon or an arbitrarily large but finite horizon.

Keywords: Monetary policy; Prices (search for similar items in EconPapers)
Date: 2004
New Economics Papers: this item is included in nep-dge, nep-mac, nep-mon and nep-sea
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Related works:
Working Paper: Monetary Policy with Single Instrument Feedback Rules (2007)
Working Paper: Monetary Policy with Single Instrument Feedback Rules (2005)
Working Paper: Monetary Policy with Single Instrument Feedback Rules (2004)
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